No Deal: Couche-Tard Says 7-Eleven Talks Were a Dead End

Dear Client:  Circle K owner Alimentation Couche-Tard has abandoned its $47 billion bid to acquire Seven & I Holdings, the Japanese parent co. of 7-Eleven, citing a lack of meaningful engagement from the company’s leadership. The collapse ends a yearslong effort by Couche-Tard to combine the colossal convenience chains and create a global powerhouse with more than 100,000 stores combined. There were signs of progress earlier this year, after the companies entered an NDA in April allowing more open talks